Euroseas trebled profits but is bracing for the deliveries of a large number of container ships next year.

The Athens-based, Nasdaq-listed tonnage provider reported a net profit of $25.2m for the three months ending on 30 September, up from $8.5m in the same period last year.

Net revenues doubled to $46m for the quarter.

The improvement was due to the larger fleet and higher charter rates negotiated at the top of the market.